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记者的观察
The realities of real estate6 F3 n! k9 `+ D1 O
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Published: Friday, October 06, 2006 ! K8 y8 l+ P2 q3 {& e" t
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.) V6 }9 o5 h5 j) ]3 Y T+ T
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The 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.
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She moved here in December with dreams of being a homeowner, something she could never afford in Vancouver despite four years of saving her money for a down payment.7 G% d# Y' O$ ]9 A" k, Q ]
' t b7 G; |: _9 i3 b0 NBut she didn't expect Edmonton's world of hot housing where the law of successful buying seems to consist of three elements: speed, cash and no conditions.8 e% D, \6 R8 Y
7 L9 P+ m3 Q3 G+ n6 w- D"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."
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5 M0 y4 U: h8 Q" gLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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But she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."% [/ p p/ r3 L4 U& g& o: u8 _' g
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.9 h0 g! i# Y# ^* e# D
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Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.( n; b7 E% {+ L& [* p3 e
9 x" u. C ~9 ~$ A, f! |: O4 }$ }) @She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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So Daly has been checking out townhouses, but even that has been difficult for her.! j6 J; v9 u4 k- s6 c _
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."4 V, w% {5 p" ?" x6 N3 w/ ^+ v
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher." W9 Y/ @6 Y A$ z3 d
2 V& w/ {6 }. b: s4 U1 g3 F- [8 sAn average single dwelling unit in Edmonton sold for $316, 480 in August this year. An average townhouse, which includes the price of duplexes, sold for $262,327 in the same month. Last year in August an average townhouse sold for $175,922.
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8 M. U. f" o' O2 @" F( f; \% h9 ^The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.- }0 _* M6 q+ j% N
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"It's definitely making people think about what their options are," Sarafinchan says. "They're having to look at things that maybe are not as what they would have termed as desirable."
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That may mean sellers are not as open to "conditions" on offers as they used to be -- such as a house inspection before the deal is finalized. |
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